Hear all stories from this pageadd all to playlist
AP
Treasury Secretary Henry Paulson and the Bush administration is embarking on what promises to be the biggest government financial intervention since the Great Depression, asking Congress to approve a comprehensive plan to rescue a financial system besieged by bad loans.
The SEC's temporary ban on short selling is a bid to calm jittery financial markets.
A possible run on money market funds was a reason for the government's plan on intervention.
September 19, 2008 · President Bush and Treasury Secretary Henry Paulson are asking Congress to move swiftly on a proposal to buy up bad mortgage debt from Wall Street firms. The cost of the program could run into the hundreds of billions of dollars.
September 19, 2008 · In rallies in Green Bay, Wis., and Blaine, Minn., John McCain launched an aggressive assault on rival Barack Obama, saying the Democrat is part of the reason why there has been a sharp decline in the confidence of the financial markets.
September 19, 2008 · The Iraqi government will be taking over security of Baghdad on Oct. 1 and will also take control of a large group of Sunni paramilitary forces currently securing much of the country. The militia leaders say they were not consulted and that they're not sure the transition will be smooth.
September 19, 2008 · Some Republicans are miffed about all the financial decisions being made without consulting them. Democrat Barney Frank says the Fed shouldn't have $800 billion to spread around without consulting anyone. Republicans say Democrats share blame for the crisis.
September 19, 2008 · Barack Obama offered his support for the proposals by Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke to stabilize the financial markets. In listing this week's economic woes, Obama included John McCain's support for the Bush administration's policies.
September 19, 2008 · Major government action to help resolve the current financial crisis may be coming soon. Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson met Thursday night with congressional leaders. They're asking Congress for the authority to buy distressed assets, in the biggest government financial intervention since the Great Depression.
September 19, 2008 · The Securities and Exchange Commission temporarily banned on Friday the routine practice of short selling. That's when investors bet the price of a stock will fall. It's legal except when it's combined with spreading of false information. The ban on short selling applies only to financial stocks.
September 19, 2008 · The federal government announced this week it would bail out insurance giant AIG. So where does the government get a spare $85 billion? Slate.com's Samantha Henig has the answer.
September 19, 2008 · As the November presidential election draws nearer, ads by independent political groups are already on the air. John McCain and Barack Obama have said that these groups should stay out of the election process. But there seems to be no way to stop them.
September 19, 2008 · Republican vice presidential nominee Sarah Palin is campaigning on her record as a champion of transparency in government. Many Alaskans believe she's brought more openness to state government. But now the McCain campaign says that Palin's husband, Todd, will not testify before the state legislature, which is investigating whether Governor Palin tried to get her former brother-in-law fired as a state trooper.
September 19, 2008 · Republican presidential nominee John McCain is facing tough questions about how he would deal with the current financial crisis. Earlier in the campaign he admitted that he was not an expert on Wall Street. On Thursday, he proposed creating a trust to review mortgage and financial institutions, identify weaker ones and strengthen them before insolvency.
September 19, 2008 · Democratic presidential nominee Barack Obama is promising new ideas to calm the crisis in the financial industry. He's expected to unveil a new economic proposal Friday in Florida. Obama reached out to Hispanic voters in New Mexico Thursday telling them this is not the time to panic, instead, it's a time for leadership.
Latest Headlines
Chart military and civilian deaths in Iraq and hear key moments from the war.
NPR staff share their favorite places to eat, drink, stay and visit in the cities they cover.
A yearlong exploration of how climate shapes people and people shape climate.
This year, NPR is taking a close look at China and its growing influence in the world.
Related Podcasts
